As long as the drive is PATA it should be fine.
That interface had different revisions with different speeds.
They were called either ATA1 through ATA5 or UtraATA33 through 66, 100, 133.
Most drives are backwards compatible with slower revisions.
So while the interface between the drive and computer might not be the fastest, the drive is still running at its peak and supplying data as fast as it can.
And part of what StorageReview has been trying to convey over the years is that the interface speed is not that important. It is the underlying speed of the drive itself.
For example the newer SATA drives have interface speeds of 150Gb/s or 300Gb/s. But the data from the drives isn't coming off at anywhere near those speeds. Further if the controller is connected to a regular PCI bus, it has a max throughput rate of data through there that puts a cap on any transfers.
Sounds like you have a VIA based southbridge, that is what provides the bus that the hard drive transfers data through.
I think Samsung makes some nice small drives that would fit your requirements.